facts on gst and brokerage for craigountant says n
Graig
Sorry but either you misunderstood what was said in relation to GST on bokerage the other day and there fore asked the wrong question of you accountant
Or
Your accountant is wrong in what he has stated.
Here are the FACTS once again
If you are a SHARE INVESTOR that is you treat your share transactions as being a capital gain or loss YOU CAN NOT claim back any GST the GST as your accountant has stated is either deducted from the total sale proceeds or added to you purchase cost base, just like the brokerage.
If you are a SHARE TRADER that is your share transactions are treated as INCOME NOT CAPITAL and you are registered for GST you are entitled to claim back 75% of the GST on BROKERAGE
